Both words for ecology and economy share the same semantic root, from the greek word oikos:
The ancient Greek word oikos (ancient Greek: οἶκος, plural: οἶκοι; English prefix: eco- for ecology and economics) refers to three related but distinct concepts: the family, the family’s property, and the house. Its meaning shifts even within texts, which can lead to confusion.
The oikos was the basic unit of society in most Greek city-states. In normal Attic usage the oikos, in the context of families, referred to a line of descent from father to son from generation to generation. Alternatively, as Aristotle used it in his Politics, the term was sometimes used to refer to everybody living in a given house. Thus, the head of the oikos, along with his immediate family and his slaves, would all be encompassed. Large oikoi also had farms that were usually tended by the slaves, which were also the basic agricultural unit of the ancient economy.
The English words “economy” and “economics” can be traced back to the Greek word οἰκονόμος (i.e. “household management”), a composite word derived from οἶκος (“house;household;home”) and νέμω (“manage; distribute;to deal out;dispense”) by way of οἰκονομία (“household management”).
The first recorded sense of the word “economy” is in the phrase “the management of œconomic affairs”, found in a work possibly composed in a monastery in 1440. “Economy” is later recorded in more general senses, including “thrift” and “administration”.
The most frequently used current sense, denoting “the economic system of a country or an area”, seems not to have developed until the 1650s.
The word ecology was coined by the German zoologist Ernst Haeckel, who applied the term oekologie to the “relation of the animal both to its organic as well as its inorganic environment.” The word comes from the Greek oikos, meaning “household,” “home,” or “place to live.” Thus, ecology deals with the organism and its environment. The concept of environment includes both other organisms and physical surroundings. It involves relationships between individuals within a population and between individuals of different populations. These interactions between individuals, between populations, and between organisms and their environment form ecological systems, or ecosystems. Ecology has been defined variously as “the study of the interrelationships of organisms with their environment and each other,” as “the economy of nature,” and as “the biology of ecosystems.”